MEXICO CITY Mexico will launch a program to verify the origin of 113 imported steel products and fight unfair trade practices, economy minister Ildefonso Guajardo said Sept. 11 at an industry event.
While the minister hasnt disclosed further information on the program, Canacero general manager Salvador Quesada Salinas said it basically will "verify what is being imported and at which prices" in order to prevent "importers from making trade triangulation."
The program will cover about 70 percent (some 6 million tonnes) of Mexicos steel imports, including slab, rebar and wire rod, Quesada Salinas said at the 3rd Mexican Iron and Steel Conference, organized by Mexican steel association Canacero.
Under the program, which will launch within the next few days, importers inform the Mexican Secretariat of Economy of what type of steel products will be imported.
Importers must attach certificates from the exporting steel mills to documents presented to Mexicos tax administration service in order to be able to carry out inspections.
The secretariat will respond within 24 hours regarding whether it will accept the import transaction.
If importers fail to attach steel mill certificates or distort any information, "they would incur criminal implications," Quesada Salinas said.
A version of this article was first published in AMM sister publication Steel First.